The calculation, completion and submission of Self Assessment Tax Returns can be complex and involves adequate knowledge of taxation laws, various legitimate exemptions and allowances. This is exactly why it is not the best decision to do it yourself. Not only does it take up a lot of your valuable time, you could actually find yourself joining the thousands who are annually fined by the HMRC for failure to file returns. We offer professional help in Self Assessment Tax Return Filing, through our teams of qualified, and vastly experienced accountants and tax advisers with exposure to different businesses. When you choose our professional services, you can look forward to the following.
- HMRC registration
- Tax return preparation – calculation of income, pensions, benefits, expenses, capital gains etc
- Tax return submission
- Professional advise on tax liabilities
- Timely filings within deadlines
- Assistance in the course of HMRC investigation
Do you need to file Self Assessment? You will have to, if you belong to any of the following categories
- Sole Trader
- Director of Ltd Company
- Recipients of allowances for the aged
- Individuals who earn income overseas without being domiciled
- Individuals earning annual income above £100K
- Individuals with a capital gains liability
- Tax defaulters unable to opt for tax code adjustment
What is required in Self Assessment Tax Returns?
If you fall into any of the above categories, you are required to complete and file a tax return. This return can be either a paper return, or a return field online. Both returns have different deadlines as last dates of submission, failing which you will face a penalty or charges. The details that will form part of the submission in the prescribed format and calculations include all income that you earn, the expenses you incur, that capital gains that you receive, and any claims for eligible tax reliefs which will go towards reducing your tax exposure.
Our services for Self Assessment Tax Returns include updating all accounts and completing returns on behalf of clients. By availing our specialised services, clients receive manifold benefits, including :
- Availing of maximum tax allowances and deductions that are permissible
- Availing specialist advice on taxation, to reduce tax exposure legally, which will help in the long haul
- Preventing the spreading of resources thinly over all activities, and focusing on core activities
- Invaluable documentation which helps maintain records in perfect order
- Full assistance in tax enquiries and revenue investigations from HMRC
Key to financial health of entities in different capacities, is the need to plan tax remittances and be fully compliant with all jurisdictional regulations. This is where you will find that Target Accounting will make your life a lot easier by taking care of all the tax related activities, leaving you to focus on what you do best.
Your time is priceless. Your money is valuable. Why waste any at all?
The UK has a large number of tax codes. Why surround yourself with problems? Let us handle complex issues, with an efficiency that will help you breeze through compliance.